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An airline has noticed that 40% of its customers who buy tickets don't take advantage of advance-purchase fares and the remaining 60% do. The no-show rate for those who don't have advance-purchase fares is 30%, while for those who do have them, it is only 5%.
a. Create a tree diagram for this situation.
b. Create a "hypothetical hundred thousand" table for this situation.
c. Using the tree diagram from part (a) or the table from part (b), find the percent of customers who are no-shows.
d. Given that a customer is a no-show, what is the probability that he or she had an advance-purchase fare?
e. Refer to the answer you found in part (d). Write a sentence presenting this result that someone with no training in statistics would understand.
A man has a simple discount note for $6200 at an ordinary bank discount rate of 8.61 % for 40 days. What is the effective interest rate? Round to the nearest tenth of a percent. (Use the banker's rule.)
The university policy department must write, on average, five tickets per day to keep department revenues at budgeted levels. Suppose the number of tickets written per day follows a Poisson distribution with mean of 6.0 tickets per day. Find the p..
The NAEP test was also given to a sample of 1077 women of ages 21 to 25 years. Their mean quantitative score was 275. Take it as known that the standard deviation of all individual scores is = 60.
Can you please give one example of a Qualitative data and one example of a Quantitative Data that you face daily? Please explain why it is a Quantitative or Qualitative data and describe the scale of measurement.
You can help him determine this by calculating the following probability: What is the probability of Jim collecting a sample mean from those 50 students that is less than or equal to 48.7 gallons?
Then turn up cards from the top until the first ace appears. What is the expected value of the number of cards required to produce the first ace?
Give an example for each of the following distributions, binomial, hypergeometric, and Poisson. Explain the differences and different characteristics.
Kris Lee, the owner and manager of the Quality Hardware Store, is reassessing his inventory policy for hammers.
Construct a relative frequency distribution for the 25 means. Compare this with the distribution prepared for Exercise 1.40 that is based on samples of n = 6 digits.
Provide a detailed explanation of what this test measures, and how it is similar to and different from the independent t-test and the chi-square test of independence.
What are some of the words that form clues? How does one know what is a population parameter and a test statistic?
A coin is tossed 25 times. let x + the number of tosses that result in heads(H) Consider the following rule for deciding whether or not the coin is fair. What is the probability of judging the coin to be biases when its actually fair?
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